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What is a merchant service broker?

I keep getting calls from someone saying they are a Merchant Service Broker.
"It was a pleasure speaking with you . Like  I mentoned we were scheduled to run the review for you .2-3 times a year Visa & MasterCard increase the rates on Credit card processing Nationwide so when they go up,  we provide you with an updated analysis, so this is for your information . I need a more recent copy of your merchant statement to get you back the updated  lower fee structures and to pinpoint the overcharges in the account especially since they are a new processor you will know right away.

Give me a call with any questions. I will have your results back to you within 24 hours and once again it is a free review for you"

What is this? They want a copy of my merchant account invoice, so they can evaluate what we are currently being charged for credit card processing fees. I'm not giving anyone my business information; especially not someone I don't know nor did I ask them to call me.

Can anyone give me insight on this?
1 REPLY 1

Rob
Community Manager
Community Manager

Thanks for reaching out to the community! Toast is your credit card processor. This business is looking to sell you their rates instead. However, Toast does not offer a way to switch to a 3rd party for credit card processing, If you have further questions or would like your rates re-evaluated, please reach out to Toast support! 

Credit Card Processing Rate
Toast Credit Card Processing and Billing FAQ



Robert Anderson, Community Manager
Toast